Photovoltaic solar systems (Solar PV)
A grant of $1000 per kWp used on a primary residence.
This new federal program is designed to stimulate citizen participation in the creation of green energy at home.
The rebate is $1000/kWp installed, up to a maximum of $5000.
The government also provides a maximum loan of $40,000 to the homeowner, over a period of 10 years at 0% interest.
Solar PV battery
With this grant, the government is offering $1000 for a battery installed with a solar photovoltaic (PV) system.
How does it work ?
Let’s imagine the following scenario
Robert is an environmentally conscious citizen and wants to participate in the green movement by installing a 5 kWp solar panel system.
He is informed that the complete equipment required and its installation represent an investment of $15,000 (taxes included).
Of this amount, the government grant allows a deduction of $5,000 from the initial amount, which brings the citizen’s investment to $10,000.
LET’S LOOK AT THE FOLLOWING ASSUMPTION
This investment would be financed at 100% for a period of 10 years (at 0% interest), as provided for in the grant program. The citizen would therefore have to pay $1000 / year or $83.33 / month. From this amount, we can subtract $577 / year or $48 / month (on average): this represents the reduction in electricity consumption – considering the electricity rates announced for the year 2023.
With a net cash outlay of $423 in the first year (or $35.25 per month), Robert could be part of Quebec’s energy transition.
In addition, during the 10 years of loan repayment, the cost of electricity will increase annually thereby reducing his net cash outlay.
Assuming a 3% increase in annual costs (as in 2023), this represents a savings of $594 in 2024 , and so on until the tenth year when the estimated savings in electricity are $719, or a net cost of $281 ($1,000 minus $719), or $23.42 per month.
At the end of the 10 years, Robert will have completed his payments. In addition, he will benefit from his reduced electricity consumption for a minimum of 15 more years (or perhaps even 25 years), with increasing savings each year.
ANOTHER BIG ADVANTAGE